Head Of Eurogroup Admits To Lying About "Secret Greek Meeting" Out Of Fears For Market Collapse - "When It Becomes Serious, You Have To Lie"

On Friday the misinformation floated about the Greek expulsion event hit a fever pitch: while we correctly speculated that nobody would be expelled from the Eurozone, the amount of conflicting info was at an all time record, with glaring inconsistencies between various quoted authoritarians. Now, courtesy of the WSJ blog, we learn that, for the first time in history, a spokesman for Jean Claude Juncker, the PM of Luxembourg, and the head of the Eurogroup council of eurozone finance ministers, admits openly to having lied to media outlets. "In a phone call and text messages with two reporters for Dow Jones and the Wall Street Journal, Mr. Schuller repeatedly said no meeting would be held. He apparently said they same to other news outlets; at least one more moved his denials on financial newswires. Of course, there was a meeting–although not, apparently, to talk about Greece quitting the currency, which would be an extreme step to say the least. Mr. Juncker even said a few words to reporters who had hustled to Luxembourg to stake out the gathering. So why the lie? “I was told to say there was no meeting,” said Mr. Schuller, reached by telephone Monday. “We had certain necessities to consider.” Necessities? Why yes: such as perpetuating the now open lie that is the ponzi market: "Evening in Europe is midday in the United States. “We had Wall Street open at that point in time,” Mr. Schuller said. The euro was falling on the Spiegel report, which had overhyped the meeting. “There was a very good reason to deny that the meeting was taking place.” It was, he said, “self-preservation.”" And there you have it: the Eurozone itself now admits that it will sacrifice credibility at the expense of a few FX pips and a few basis points in the ES.Everything else is smoke and mirrors. And people think that central bankers will consider the threat of inflation should the Russell 2000 ever retrace back into bear market territory...

And it gets even more surreal:

Asked whether such deliberate misinformation would undermine the market’s confidence in future euro-zone pronouncements, Mr. Schuller, lamenting that the market had practically no confidence in pronouncements already, said “not at all.”

When Mr. Juncker, or European Central Bank President Jean-Claude Trichet, or French Finance Minister Christine Lagarde says something to the markets, Mr. Schuller said, “nobody seems to believe it.”

Mr. Juncker has voiced support for the practice of lying before.

The Web site EUobserver has video of Mr. Juncker, at a conference on economic governance in April, expounding on the practice and reasons for lying in financial and economic communications.
Asked whether such deliberate misinformation would undermine the market’s confidence in future euro-zone pronouncements, Mr. Schuller, lamenting that the market had practically no confidence in pronouncements already, said “not at all.”

When Mr. Juncker, or European Central Bank President Jean-Claude Trichet, or French Finance Minister Christine Lagarde says something to the markets, Mr. Schuller said, “nobody seems to believe it.”

Mr. Juncker has voiced support for the practice of lying before.

The Web site EUobserver has video of Mr. Juncker, at a conference on economic governance in April, expounding on the practice and reasons for lying in financial and economic communications.

On the tape, Mr. Juncker says he has “had to lie” and, speaking about touchy economic topics, “When it becomes serious, you have to lie.”

At this point Europe no longer even attempts to hide that everything is one big lie, and that should the truth emerge the market will crash more than ever in history. And why would the US be any different? It woulnd't which is why we can now safely say that pretty much any information coming out from the government and its proxies that has a stock market impact is false until proven true. Of course, for everything else, one can blame the conspiratorial blogs...

His mother’s father was Wilhelm von Opel, son of the Opel founder Adam Opel. His father’s father was the enemy of the fixies: He invented the freehub. His company was a major supplier of auto parts. But that’s not how the world remembers Gunther Sachs, who shot himself on Saturday in his house in Gstaad, Switzerland.

They say that Richard Cory owns one half of this whole town,With political connections to spread his wealth around.Born into society, a banker's only child,He had everything a man could want: power, grace, and style.

But I work in his factoryAnd I curse the life I'm livingAnd I curse my povertyAnd I wish that I could be,Oh, I wish that I could be,Oh, I wish that I could beRichard Cory.

The papers print his picture almost everywhere he goes:Richard Cory at the opera, Richard Cory at a show.And the rumor of his parties and the orgies on his yacht!Oh, he surely must be happy with everything he's got.

But I work in his factoryAnd I curse the life I'm livingAnd I curse my povertyAnd I wish that I could be,Oh, I wish that I could be,Oh, I wish that I could beRichard Cory.

He freely gave to charity, he had the common touch,And they were grateful for his patronage and thanked him very much,So my mind was filled with wonder when the evening headlines read:"Richard Cory went home last night and put a bullet through his head."

like noise I guess. If nobody hears it. Perhaps I could use this argument in court. Your honor, I know my client lied and forged that document but "when it becomes serious, you have to lie." What do you think? A jury will love that too.

My understanding is that banking & government are serious business, so by this new declaration I deduce that bank & government officials are almost always lying. Before our xenophobia gets too out of hand, we should consider that at least this swine admits to lying, whereas the swine who run our public affairs would never be honest enough to admit that they lie.

And MSM lies. Cuz the truth ain't patriotic. It is patriotic to lie, if it means people consume and drive growth and capitalism. Same for currency preservation and bond haircuts. The truth is damn inconvenient if it gets in the way of a good story/sham. Sigh.

The Onion has nothing on these guys! 'When asked if such news of blatant lying would undermine confidence in markets, Mr Eurodude laments theres no confidence anyway, so no admissions of lying will not undermine confidence'

Then, they have the commodities bitch come on, and say "there was NO REASON AT ALL FOR SILVER TO GO UP THE WAY IT DID. THE FUNDAMENTALS DON'T SUPPORT IT!!!"

REALLY?! The nimrods JUST had a guy on that VERY LOGICALLY explained how the FUNDAMENTALS could skyrocket the price!!!!!

CNBC is a fucking joke!!! I hope their world comes crashing down in a big fucking flaming shit pile. And if ANY one of those fuckers has gold, silver or anyother precious metals, they are robbed of them. Then crucified with silver nails, and the pictures of their crucifixion made into posters and strung up along every government building. To remind everyone for eternity what happens when you lie, cheat, and steal from the people that work, produce, and innovate, to make this country great.

I think the fear is the dominoe effect. Greece then Portugal, Ireland, Spain, Italy...where does it stop? The two tier Euro defeats the whole purpose of one currency for the Euro region in my humble opinion and would cause more problems rather then solutions.

They don't even bother to hide the lies anymore-- Obama birth certificate, Bin Laden "assassination", and now this. Either they are falling apart, or their arrogance has swelled to unfathomable proportions.